Financing the future of Singapore
The annual national Budget is something that most Singaporeans take
only passing and selective notice of. They should give it more
The Budget is not simply an exercise in national accounting. It is an
expression of where the tyre meets the road for policy. No money, no
talk, as the saying goes.
Singaporeans should take comfort in three important features of the national Budget.
Singapore property will remain attractive to some foreign buyers: Colliers
This is despite the latest property cooling measures.
In its January 2013 outlook, Colliers International said that while
many Singaporeans and price-sensitive foreign buyers will be deterred
from the increased buying prices, some foreign buyers might be able to
look past the new curbs because of Singapore's reputation for being
"stable with good protection of property rights and minimal currency
Here's more from Colliers:
Shareholders of Singapore’s Olam approve fee payment to Temasek
Shareholders of Olam International Ltd
approved the payment of US$6 4 million in fees to a unit of Singapore
state investor Temasek Holdings Pte Ltd for fully backing the embattled
commodity firm’s US$1 2 billion bonds-with-warrants issue
sub-underwriting fee which had been expected to receive approval is
being paid to Temasek also Olam’s second-biggest shareholder as the
Singapore commodities firm taps the debt market for funds to bolster its
Olam’s bonds and warrants are expected to start
trading on Jan 31.
Singapore allows pre-crime strikes against online crooks
The Singaporean government has passed amendments to the city-state’s
Computer Misuse Act, renaming it the Computer Misuse and Cybersecurity
Act, and granting itself powers to take proactive measures against a
potential cyber threat before it disrupts critical infrastructure.
The Ministry of Home Affairs released a statement
on Monday detailing the updates to the law and explaining the changes
as necessary given Singapore’s increasing reliance on cyberspace. That
reliance, the statement says, means the island nation faces “new risks
and vulnerabilities” to the critical information infrastructure (CII)
from the likes of Stuxnet (which got a mention in Parliamentary debate
on the amendments).
The amendments to Section 15 now state that the relevant minister can
order a CII-related person or organisation to “take measures or comply
with requirements necessary to prevent, detect or counter a threat to
the national security, essential services, defence or foreign relations
Singles will be allowed to buy brand new HDB flats
The Ministry of National Development is finalising a policy to allow
singles to buy new Housing Board (HDB) flats, said its minister Khaw
In a written reply to a question addressed in Parliament on Monday,
Khaw said the policy is expected to be implemented later in the year.
Existing regulations state that singles are only allowed to buy a
resale flat if they are at least 35 years of age. If they are between
the ages of 21 and 35, they are allowed to buy new HDB or resale flats
if they live with their parents.
Singapore Regulator Fines Casinos Over Lax Entry Controls
Singapore's casino regulator said Tuesday it has fined the city-state's two casino resorts for failures to
enforce strict casino-entry controls in incidents that occurred from late 2011 to early 2012.
Marina Bay Sands, operated by U.S. gambling group Las Vegas Sands Corp. ( LVS ), was fined 130,000 Singapore dollars($
106,000) for the disciplinary breaches, while Genting Singapore PLC's (G13.SG) Resorts World Sentosa was fined S$
100,000, the Casino Regulatory Authority said on its website.
The breaches--which occurred between Nov. 1, 2011 and April 30, 2012--include allowing some local residents to enter
or remain in the casinos without paying the required entry levy, and failing to prevent minors and several banned
individuals from entering the casinos.
Law professor in corruption trial still on full pay: NUS
The law professor who is presently involved in the sex-for-grades case
is still on full pay by the National University of Singapore (NUS) after
he was suspended from his duties last year.
revealed by the Senior Associate Director, Office of Human Resource Lee
Swee Khuen of the NUS, who told the District Court this today after
senior inspection investigator Png Chen Chen stood down as witness in
the early afternoon.
Tey, 41, has been charged with six
counts of obtaining gratifications in the form of sex and gifts from his
former student, Ms Darinne Ko, 23, in exchange for better grades.
Susan Lim case: 'Ethical charging should exist'
The issue of how much a doctor can and should charge dominated prominent
surgeon Susan Lim's five-hour-long appeal hearing before the Court of
Three Judges yesterday.
Senior Counsel Lee Eng Beng, Dr
Lim's lawyer, questioned if charging fees beyond the "intrinsic value"
of the medical services provided, and irrespective of the costs in
providing them or the agreement of the patient, amounted to professional
Dr Lim was found guilty last July by a
Singapore Medical Council (SMC) disciplinary committee (DC) of 94
charges of professional misconduct for overcharging and making false
representations in her invoices for her treatment of a royal patient
from Brunei. She charged S$24 million for half a year's care, before
halving it to S$12.1 million with a discount.